US stock markets seesawed after the Federal Reserve said it will lower its benchmark interest rate, a decision in line with expectations.
The Dow Jones Industrial Average rose more than 370 points to a record intraday high on Wednesday. But it ended 0.2 percent lower.
Japan’s benchmark Nikkei 225 stock index climbed more than 1,000 points, or 2.7 percent, at one stage in Tokyo trading on Thursday.
Overall, investors welcomed the Fed’s rate cut as an important step to support growth in the US economy.